Gross Domestic Product


 
 
Concept Explanation
 

Gross Domestic Product

Gross Domestic Product:The sum of the value of all final goods and services produced in all the three sectors in a particular year is called the Gross Domestic Product (GDP) of a country.GDP indicates the size of the economy of a country. It is the market value of the final goods and services produced by all sectors.

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Sample Questions
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Question : 1

Gross Domestic Product is the total value of _________________________ produced during a particular year.

Right Option : B
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Question : 2

Which of the following statements is true about Gross Domestic Product ?

Right Option : D
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Question : 3

GDP refers to :

Right Option : C
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